Mortgage interest rates vary today, with 30-year fixed rates at 6.71% and 15-year fixed rates at 5.82%. President Trump’s 100% tariff threat on Russia didn’t affect bond yields or the dollar much. Mortgage rates are expected to stay flat, closely linked to the 10-year Treasury note.

Current national averages for mortgage rates include 30-year fixed at 6.71%, 15-year fixed at 5.82%, and 5/1 ARM at 7.42%. Refinance rates are slightly higher than purchase rates. Remember that these are rounded averages for guidance.

Consider a 15-year mortgage for lower rates in the long run, even though monthly payments are higher. With a $400,000 mortgage at 30 years and 6.71%, you’d pay $2,584 monthly and $530,156 in interest. A 15-year mortgage at 5.82% would cost $3,337 monthly and $200,597 in interest.

Fixed-rate mortgages lock in your rate from the start, while adjustable-rate mortgages change rates after a set period. ARM rates can start lower but may rise, depending on economic factors. Economists don’t predict significant mortgage rate drops before the end of 2025, with Fed decisions playing a critical role.

Zillow’s data shows 30-year fixed rates at 6.71% for home purchases and 6.76% for refinances. National averages may vary by location and personal financial situation. Mortgage rates may ease slightly by the end of 2025, but significant drops are unlikely anytime soon.

Read more at Yahoo Finance: A little higher or lower based on your loan term